The disclosure of the function of the loan provided an understanding of the role of credit in the pricing process. However, pricing in the service sector is a rather specific area, where the study of the role of lending needs further clarification. In addition, economic science has still not developed a single consensus on this issue.
For example, a number of experts believe that pricing in a market economy suggests that the function and role of credit show the place of credit, primarily in distribution relations regarding the determination of the dominant factors in pricing.
Others argue that the role of credit in pricing directly follows from its nature and functions.
Speaking about individual sectors of the economy, there is a point of view that, for example, pricing for transport services, considers credit as the result of the implementation of its functions in the real conditions of economic activity and the specifics of the industry.
Summarizing the various opinions, one general position can be distinguished - the role of credit in pricing is determined by the degree of efficiency of its use. Given these views, it also seems that credit in the system of financial and economic relations through such a mechanism as pricing in the service sector creates new relationships caused by needs:
- elimination of the imbalance between the constant accumulation of money supply released in the process of turnover from enterprises, the budget (state) and the population, and its use in the interests of expanding production;
- guaranteeing the continuity of the process of capital turnover when the industry or enterprise operates in regimes with different periods of the circulation of funds;
- the organization of such a system of turnover of funds and payments that take into account the credit nature of the issue of money;
- organization and implementation of such an enterprise management model in which pricing in the services sector is carried out exclusively on a commercial basis.
The reasons for this need are:
- the constant formation of cash reserves and the emergence of additional temporary needs for them;
- various duration of the turnover of funds in individual links of the national economy,
- close interweaving of cash and non-cash cash flow;
- the isolation of capital within individual business entities.
These reasons initially determine the place of credit in the field of economic relations and its relationship with the main economic categories, one of which is pricing in the service sector, which have mutual influence.
Consequently, the influence of credit is enhanced by its role. It seems that the role of the loan reflects the result to which the implementation of its specific functions leads, that is, it is approved by the functions.
Therefore, it is advisable to give the following definition of the role of credit in the practice of the pricing process: this is a measure of the impact of the credit category on the pricing category in the service sector in order to reveal all its (potential) capabilities.
The proposed definition emphasizes that the role of credit is to increase the profitability of an enterprise, its overall effectiveness, and use of profit in the interests of further business development.
An understanding of the function and role of lending is that the function acts as a means (method) of influence on the pricing process, which tunes the loan to achieve the effect, and the role as the magnitude (measure) of this effect, that is, the possibility (way) of its reflection.
At the same time, despite the differences, these concepts are interrelated, since they are aimed at fulfilling the final result:
- through the performance of its functions, credit increases the efficiency of production of economic entities and society as a whole (through faster circulation, cost savings and higher incomes);
- the role of the loan shows objective results achieved with the correct implementation of its functions in pricing.
The very role of credit in pricing can be determined by the degree of effectiveness of its use in this particular economic process.